Panel on new financial sector laws to meet on June 6
Amid rising scams and global economic worries, the high-profile panel on re-writing the country's financial sector rules will meet on June 6 to discuss ways to strengthen regulatory oversight.
Amid rising scams and global economic worries, the high-profile panel on re-writing the country's financial sector rules will meet on June 6 to discuss ways to strengthen regulatory oversight.
The government had constituted the Financial Sector Legislative Reforms Commission (FSLRC) in March and it met for the first time in the following month."Harmonising of financial sector legislations, rules and regulations has become imperative and the government is keen to expedite the process," an official said, adding that FSLRC's second meeting is scheduled for June 6.Efforts for financial sector reforms have gained momentum against the backdrop of 2008 global economic meltdown, which was blamed on excessive risk taking ways and lax regulations.However, India's overall conservative approach was widely appreciated, as the country was less affected by the financial crisis compared to the developed nations. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
